FordCNBC’s Jim Cramer said Wednesday that (F)’s stock could provide clues into Wall Street’s current stance on a potential UAW strike.
The UAW has been working with its 146,000 members to work with Detroit’s Big Three automakers — Ford; General Motors (General Motors) and Jeep owners star (STLA). The current contract expires at 11:59 p.m. Thursday. If no agreement is reached, the UAW has the authority to call a strike.
“I like to think of Ford as a barometer,” Cramer said on “Squawk on the Street.” “Maybe someone did think it was going to be Stellantis that they were going after,” Cramer said, alluding that the UAW might choose to target just one automaker rather than all three because the latter would be more costly. High.
The United Auto Workers may also decide to launch targeted strikes at certain plants, CNBC reported late Tuesday, citing union officials.
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Cramer’s Charitable Trust, a portfolio used by CNBC Investing Club, holds Ford stock. Cramer has been worried about pending labor talks on Ford stock for weeks, but he doesn’t see that as a reason to sell the stock.
In an interview with CNBC earlier Wednesday, UAW President Shawn Fain was asked if Ford Motor Co., which employs the most UAW members of the Detroit Three, was the least likely to be hit. company of. “As things stand, these three projects are most likely to take a hit unless we reach an agreement before midnight on September 14,” Fein responded. “There is no lead company,” he said.
Elsewhere on Wednesday, UBS initiated buy ratings on Ford and General Motors
Here is the full list of stocks Jim’s Charitable Trustt, a portfolio used by the CNBC Investing Club.
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